Insurance is something that is necessary for you to have in various capacities. First of all of course you will know about car insurance as every car owner knows that it is necessary to have it in order to leally drive your car on the roads. It is the same with truck owners as they too of course, must also get lorry insurance. Lorry insurance, often referred to as HGV insurance comes in far more choices than regular car insurance though and so unlike car insurance, where we generally trust our local insurance agent to sell us the best one, truck owners usually hire insurance brokers to find them the best, most suitable insurance policies for them. A broker is an independent insurance consultant, meaning that they do not work for just one insurance company, unlike an insurance agent who is an employee of one particular insurance company. Obviously as an agent is employed by one company, it is always that company’s policies that they will sell you and are unlikely to tell you that you could get a better policy elsewhere.
With car insurance it doesn’t matter too much as all the companies offer very similar policies and their prices only differ slightly however, that is not the case with HGV insurance where both the range of coverage and the prices can vary greatly. An agent, on your behalf, will request quotes from many different insurance companies and present you with a list of recommendations. It is of course your choice as to which one they take out for you but their advice is often crucial as they are the ones that fully understand the small print on each of the policies. Usually as broker will be an ex agent and so would have had training from an insurance company. This means that the broker is fully aware of what the different small print means and can explain it to you. The different things that you will have to let the broker know so that they can get the appropriate quotes for you are; size and weight of the truck, type of freight it is expected to carry and what countries it may have to be driven in. Obviously the size of the truck makes a difference but the type of freight may make a difference, especially if you are planning to carry any hazardous goods. If you are expecting your truck to make international deliveries, although there will probably be EU regulations about the minimum insurance you need, each individual country may also have its own regulations and so you want to ensure that your insurance policy is valid for each of the different countries it will need to drive in or through. Some insurance brokers specialize in HGV insurance and so they are the best ones to hire as they are already fully aware of the different regulations that apply in the different countries. If you were to ask for quotes from all the different insurance companies yourself, you would have to be prepared to spend quite some time doing so.